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20. RETIREMENT PLAN
12 Months Ended
Oct. 31, 2012
Compensation and Retirement Disclosure [Abstract]  
RETIREMENT PLAN

20. RETIREMENT PLAN

 

The Company has a defined contribution plan which meets the requirements of Section 401(k) of the Internal Revenue Code. All employees of the Company who are at least twenty-one years of age are eligible to participate in the plan. The plan allows employees to defer a portion of their salary on a pre-tax basis and the Company contributes 25% of amounts contributed by employees up to 6% of their salary. Company contributions to the plan amounted to $130,000, and $121,000, for the fiscal years ended October 31, 2012 and 2011, respectively.